Interim Report Second Quarter 2017
- The results for the second quarter should be considered against a strong comparative in the second quarter of 2016, being the strongest quarter of 2016.
- Net sales decreased by 8% to SEK 106.5 (115.6) million. Adjusted to fixed exchange rates, net sales decreased by 10%.
- Adjusted operating profit decreased by 20% to SEK 34.9 (43.8) million.
- Adjusted profit before tax decreased by 24% to SEK 26.4 (34.6) million.
- Operating profit (as reported under IFRS) decreased by 8% to SEK 39.2 (42.5) million.
- Profit before tax (as reported under IFRS) decreased by 6% to SEK 43.7 (46.5) million.
- Net sales decreased by 1% to SEK 221.5 (223.0) million. Adjusted to fixed exchange rates, net sales decreased by 2%.
- Adjusted operating profit increased by 2% to SEK 79.3 (77.8) million.
- Adjusted profit before tax increased by 4% to SEK 61.7 (59.2) million.
- In February 2017, Diamorph AB (publ) acquired the final 10% of Diamorph Bearings AB and so today controls 100% of each of its subsidiaries.
- Operating profit (as reported under IFRS) increased by 9% to SEK 82.4 (75.4) million.
- Profit before tax (as reported under IFRS) decreased by 21% to SEK 75.7 (96.3) million.
Significant events after the end of the first half
- On 10 August 2017 Diamorph AB (publ) gave notice that it is exercising its option for early voluntary redemption in full of the SEK 450 million outstanding bonds. The bonds will be redeemed using a combination of existing surplus cash as well as from proceeds drawn down through a new senior secured bank facility.
The full report is attached to this press release and is also available for download at www.diamorph.com.
For additional information, please contact:
Gordon MacLeman, CEO
Telephone: +44 161 955 2410
Mark Hutchison, CFO
Telephone: +44 161 955 2409
The information was submitted for publication on August 29, 2017, at 08:00.
Diamorph supplies advanced material solutions for especially demanding industrial applications. The Company is headquartered in Stockholm and has subsidiaries in the United Kingdom and the Czech Republic. Learn more at www.diamorph.com.